Are you interested to know which trends & startups will soon impact your business? Automation in logistics processes brings out an essential increase in productivity and efficiency in the workflow. The improvement of transparency and traceability of the supply chain is vital to maintaining a flexible and dynamic relationship between the various stakeholders. Here we are sharing the top 6 logistics trends and innovations.
Explore our article to get an idea of the latest trends and innovations. Let's start with the sixth trend!
TBlockchain offers security through an irrefutable decentralized ledger system and addresses pressing traceability and related challenges. This brings transparency of sales to the entire logistics process. Moreover, smart contracts based on blockchain technology allow for quicker approval and clearance by reducing the processing time at checkpoints. Steamchain is for smart contracting to help in minimizing currency fluctuation costs, in addition to eliminating the costs of currency conversion. ShipChain is for Freight Tracking which helps increase visibility and transparency of goods in transit.
Warehouses require a fusion of efficient automation technologies to control their operational logistics costs. Warehouse automation improves efficiency, speed, and productivity by reducing human interventions. Pick and place technologies such as automated guided vehicles, robotic picking, automated storage and retrieval, and put-wall picking reduce error rates and increase warehouse productivity.
Last-mile delivery is very essential to logistics as it is directly related to customer satisfaction. However, last-mile delivery faces various problems including delays due to traffic congestion, customer nuances, government regulation, and delivery density. Drones can reach remote areas, thus reducing the delivery time and cost. Delivery of goods by drones resolves the problem of traffic congestion in the last mile.
Integrating robotics into logistics increases the speed and accuracy of supply chain processes and reduces human error. Robots offer more uptime and increase productivity when compared to human workers. Robots, however, do not take up the jobs of humans but rather work collaboratively alongside them to increase efficiency. work collaboratively with human workers, offer assistance, and enhance productivity in logistics operations. These robots pick, place, and pack goods in a brief span while eliminating potential human errors.
AI algorithms combined with machine learning support companies to be proactive in dealing with demand fluctuations. AI-based software solutions for price prediction, demand forecasting, and optimization of flows & processes, catering mainly to the consumer packaged goods (CPG) and retail industries. The software provides modules for risk assessment and demand forecasting to automate process decisions and control operational conditions. the software supports the decision making of fleets over time by predicting conditions such as demand, weather, and traffic by employing machine learning techniques. The solution also optimizes the workforce requirement and automates redeployment
IoT in logistics enhances visibility in every step of the supply chain and improves the efficiency of inventory management. The Internet of Things is a connection of physical devices that monitor and transfer data via the internet and without human intervention. Integrating IoT technology into the logistics and supply chain industries improves and enables efficiency, transparency, real-time visibility of goods, condition monitoring, and fleet management. United Arab Emirates-based startup Fleetroot offers an IoT platform for companies to control and manage their fleet. Fleetroot offers fuel management solutions to fleet managers by providing fuel consumption and wastage reports. The platform helps monitor the performance of a vehicle and sends critical alerts to the system using sensors and devices embedded in the vehicle. The data is then analyzed along with the historical data to predict and plan the maintenance of fleets. Fleetroot also offers route optimization and delivery solutions for the transportation of goods.